Section 372 — Exemptions — Co-operatives National Law (NSW) (New South Wales) — Barrister AI

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Section 372 — Exemptions — Co-operatives National Law (NSW) (New South Wales) — Barrister AI

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s 1Citation s 2Commencement s 3Objects s 4Definitions s 5Miscellaneous provisions relating to the interpretation of this Law (Schedule 4)s 6References to regulations where National Regulations are not applied s 7Corresponding co-operatives law s 8Co-operatives National Law Act of this jurisdiction s 9Involvement in contraventions s 10Co-operative principles s 11Interpretation to promote co-operative principles s 12Excluded matter—co-operatives and participating co-operatives s 13Applied Corporations legislation matters under this Law s 14Applied Corporations legislation matters under the National Regulations s 15Modifications to applied provisions s 16National Regulations may provide for matters dealt with by Corporations legislation s 17Types of co-operatives s 18Distributing co-operatives s 19Non-distributing co-operatives s 20Provisions regarding Registrar’s approvals about numbers s 21Formation meeting s 22Requirements regarding formation meeting s 23Submission of draft rules and draft formation disclosure statement s 24Provisions relating to and approval of rules s 25Provisions relating to and approval of formation disclosure statement s 26Application for registration of proposed co-operative s 27Registration of proposed co-operative s 28Incorporation and certificate of registration s 29Existing corporation can be registered s 30Formation meeting (existing corporation)s 31Application for registration of existing corporation s 32Requirements for registration s 33Certificate of registration s 34Effect of registration s 35Conversion of co-operative s 36Acceptance of money by proposed co-operative s 37Issue of duplicate certificate s 38Effect of incorporation s 39Power to form companies and enter into joint ventures s 40Interpretation s 41Doctrine of ultra vires not to apply s 42Legal capacity s 43Rules may limit powers and set out objects s 44Entitlement to make assumptions s 45Assumptions s 46Person who knows or ought to know cannot make assumptions s 47Filing of documents not to constitute constructive knowledge s 48Effect of fraud s 49Execution of documents by co-operative s 50Agent exercising co-operative’s power to make contracts s 51Other requirements as to consent or sanction not affected s 52Contracts before registration s 53Person may be released from liability but is not entitled to indemnity s 54This Division replaces other rights and liabilities s 55Effect of rules s 56Content of rules s 57Purchase and inspection of copy of rules s 58False copies of rules s 59Rules can only be amended under this Law s 60Approval of certain rule amendments s 61Amendment by special resolution s 62Amendment by resolution of board s 63Amendment does not take effect until registered s 64Model rules s 65Adoption of model rules s 66Relationship of this Division to Division 1 s 67Nature of share in co-operative s 68Registration of current disclosure statement s 69Restrictions on advertising and publicity s 70Disclosure to intending shareholders in distributing co-operative s 71Exemptions from disclosure statements s 72Contravention leading to right to recover for loss or damage s 73Right to recover for loss or damage resulting from contravention s 74Due diligence defence s 75General defences s 76Shares—general s 77Minimum number of shares to be subscribed for s 78Minimum paid up amount s 79Shares not to be issued at a discount s 80Issue of shares at a premium s 81Joint ownership of shares s 82Members may be required to take up additional shares s 83Bonus share issues s 84Restrictions on bonus shares s 85Notice about bonus shares s 86Definition s 87Application of this Division s 88Application money to be held on trust s 89Minimum subscription condition must be fulfilled before issue or transfer s 90Repayment of money if disclosure statement condition not met s 91Direction to disclose s 92Disclosure by member of relevant interests and instructions s 93Registration as trustee, executor or administrator on death of owner of shares s 94Registration as administrator of estate on incapacity of shareholder s 95Registration as Official Trustee in Bankruptcy s 96Liabilities of person registered as trustee or administrator s 97Notice of trusts in register of members s 98No notice of trust except as provided by this Division s 99Sale or transfer of shares s 100Sale or transfer of shares to be subject to rules s 101Transfer not effective until registered s 102Meaning of “interest”s 103Transfer of shares and other interests on death of member s 104Transfer of small shareholdings and interests on death s 105Value of shares and interests s 106Co-operative protected s 107Purchase and repayment of shares s 108Deposits, debentures or CCUs instead of payment when share repurchased s 109Cancellation of shares s 110Becoming a member of co-operative s 111Members of co-operative group s 112Qualification for membership s 113Membership may be joint s 114Minors s 115Representatives of corporations s 116Notification of shareholders and shareholdings s 117Circumstances in which membership ceases—all co-operatives s 118Additional circumstances in which membership ceases—co-operatives with share capital s 119Carrying on business with too few members s 120Rights of membership not exercisable until registered etc s 121Liability of members to co-operative s 122Co-operative to give information to person intending or applying to become a member s 123False copy of documents s 124Entry fees and regular subscriptions s 125Members etc may be required to deal with co-operative s 126Fines payable by members s 127Lien and set-off s 128Repayment of shares on expulsion or resignation s 129Grievance procedure s 130Application to designated tribunal s 131Interpretation—extended meaning of “member”s 132Application of Division s 133Application for order s 134Orders s 135Basis on which orders made s 136Winding up need not be ordered if members unfairly prejudiced by order s 137Application of winding up provisions s 138Changes to rules s 139Copy of order to be filed with Registrar s 140Order for inspection of books of co-operative s 141Ancillary orders s 142Disclosure of information acquired in inspection s 143Co-operative or directors may allow member to inspect books s 144Meaning of “primary activity”s 145Meaning of “active member”s 146Meaning of “active membership provisions and resolutions”s 147Number of primary activities required s 148Rules to contain active membership provisions s 149Factors and considerations for deciding primary activities and other matters s 150Active membership provisions—distributing co-operatives s 151Active membership provisions—non-distributing co-operatives—regular subscriptions s 152Notice of meeting s 153Eligibility to vote on active membership resolution s 154Eligibility of directors to vote on proposal at board meeting s 155Other entitlements of members not affected s 156Cancellation of membership of inactive member s 157Shares to be forfeited if membership cancelled s 158Failure to cancel membership—offence by director s 159Deferral of cancellation by board s 160Cancellation of membership prohibited in certain circumstances s 161Notice of intention to cancel membership s 162Order against cancellation s 163Repayment of amounts owing because of cancelled membership s 164Interest on deposits, debentures and CCUs s 165Repayment of deposits, debentures and CCUs s 166Register of cancelled memberships s 167Application of Division s 168Former shareholders to be taken to be shareholders for certain purposes s 169Entitlements of former shareholders on mergers etc s 170Set-off of amounts repaid etc on forfeited shares s 171Exemption of co-operatives from provisions s 172Board of directors s 173Election of directors s 174Qualification of directors s 175Meeting of board of directors s 176Transaction of business outside meetings s 177Alternate directors s 178Delegation by board s 179Removal from and vacation of office s 180Removal from office by resolution s 181Offence for disqualified person to manage co-operative s 182Automatic disqualification for offences s 183Extension of period of automatic disqualification s 184Court’s power of disqualification—contravention of civil penalty provision s 185Court’s power of disqualification—insolvency and non-payment of debts s 186Court’s power of disqualification—repeated contraventions of Law s 187Registrar’s power of disqualification s 188Registrar’s power to give permission s 189Court’s power to grant leave s 190Secretary s 191Responsibility of secretary s 192Care and diligence—civil obligation only s 193Good faith—civil obligations s 194Use of position—civil obligations s 195Use of information—civil obligations s 196Good faith, use of position and use of information—criminal offences s 197Interaction of preceding sections with other laws s 198Indemnification and exemption of officer or auditor s 199Insurance premiums for certain liabilities of director, secretary, other officer or auditor s 200Certain indemnities, exemptions, payments and agreements not authorised and certain documents void s 201Application of Corporations Act—offences by officers of co-operatives s 202Application of Corporations Act—employee entitlements s 203Directors’ remuneration s 204Certain financial accommodation to officers prohibited s 205Financial accommodation to directors and associates s 206Restriction on directors of certain co-operatives selling land to co-operative s 207Management contracts s 208Declaration of interest s 209Declarations to be recorded in minutes s 210Division does not affect other laws or rules s 211Certain interests need not be declared s 212Registers to be kept by co-operatives s 213Location of registers s 214Inspection of co-operative’s registers and other documents s 215Use of information on registers s 216Notice of appointment or cessation of appointment of directors and officers to be lodged with Registrar s 217List of members to be lodged with Registrar at request of Registrar s 218Reports to be lodged with Registrar concerning prescribed particulars s 219Special return to be lodged at request of Registrar s 220Name to include certain matter s 221Exception to requirement for using “Limited” in name s 222Use of abbreviations s 223Name to appear on seals, publications and business documents s 224Change of name of co-operative s 225Restriction on use of word co-operative or similar words s 226Registered office of co-operative s 227Application of Part to voting s 228Voting s 229Voting by proxy s 230Inactive members not entitled to vote s 231Control of right to vote s 232Effect of disposal of shares on voting rights s 233Effect of relevant share and voting interests on voting rights s 234Rights of representatives to vote s 235Other rights and duties of members not affected by ineligibility to vote s 236Vote of disentitled member to be disregarded s 237Decisions to be by ordinary resolution s 238Ordinary resolutions s 239Special resolutions s 240How majority is ascertained s 241Declaration of passing of special resolution s 242Effect of special resolution s 243Registration of special resolution s 244Decision of Registrar on application to register special resolution s 245Application of Division s 246Resolution by circulation of document—fewer than 50 members s 247Postal ballots s 248Special postal ballots s 249When special postal ballot is required s 250Holding of postal ballot on requisition s 251Expenses involved in postal ballots on requisition s 252Annual general meetings s 253Special general meetings s 254Notice of meetings s 255Quorum at meetings s 256Decision at meetings s 257Calling of general meeting on requisition s 258Minutes s 259Auditor entitled to notice and other communications s 260Auditor’s right to be heard at general meetings s 261Questions and comments by members on co-operative management at annual general meeting s 262Questions by members of auditors at annual general meeting s 263Interpretation s 264General modifications to applied provisions of Chapter 2M of Corporations Act s 265Obligation to keep financial records s 266Language requirements s 267Physical format s 268Place where records are kept s 269Director access s 270Who has to prepare annual financial reports and directors’ reports s 271Small co-operative—direction by members s 272Small co-operative—direction by Registrar s 273Contents of annual financial report s 274Compliance with accounting standards and regulations s 275True and fair view s 276Audit of annual financial report s 277Application of Corporations Act—co-operatives with quoted securities—declaration about financial statements by certain officers s 278Annual directors’ report s 279Annual directors’ report—general information s 280Annual directors’ report—specific information s 281Application of Corporations Act—co-operatives with quoted securities—additional information to be provided in directors’ annual report s 282Application of Corporations Act—co-operatives that are disclosing entities—half-year financial reports and directors’ reports s 283Application of Corporations Act—audit and auditor’s report s 284Annual financial reporting to members s 285Deadline for reporting to members s 286Member’s choices for annual financial information s 287Consideration of reports at annual general meeting s 288Application of Corporations Act—additional reporting by debenture issuers s 289Lodgment of annual reports by large co-operatives with Registrar s 290Lodgment of half-year reports with Registrar s 291Registrar’s power to require lodgment s 292Relodgment if financial statements or directors’ reports amended after lodgment s 293Lodgment by small co-operatives of annual returns with Registrar s 294Application of Corporations Act—special provisions about consolidated statements s 295Financial year s 296Half-year s 297Application of Corporations Act—auditors s 298Appointment of auditor of small co-operative s 299Initial appointment of auditor of large co-operative s 300Annual appointment at annual general meeting of auditor of large co-operative to fill vacancy s 301Appointment by directors or annual general meeting of auditor of large co-operative to fill casual vacancy s 302Appointment to replace auditor removed from office s 303Registrar to be notified of appointment of auditor s 304Registrar may appoint auditor if auditor removed but not replaced s 305Registrar’s general power to appoint auditor of large co-operative s 306Restrictions on Registrar’s powers to appoint auditor of large co-operative s 307Remaining auditors may act during vacancy s 308Nomination of auditor s 309Auditor’s consent to appointment s 310Removal and resignation of auditors s 311Effect of winding up on office of auditor s 312Fees and expenses of auditors s 313Protection of auditors s 314Accounting and auditing standards s 315Interpretation of accounting and auditing standards s 316Exemptions—individual co-operatives s 317Exemptions—classes of co-operatives s 318Exemptions—criteria for exemptions for individual co-operatives or classes of co-operatives s 319Exemptions—non-auditor members and former members of audit firms, and former employees of audit companies s 320Exemptions—classes of non-auditor members etc s 321Exemptions—criteria for exemptions for non-auditor members etc s 322Exemptions from National Regulations s 323Registrar’s power to modify the operation of section 324DA of Corporations Act s 324Auditor to notify co-operative of declaration s 325Modification by National Regulations s 326Amendment, suspension or revocation of exemption s 327Disclosure by directors s 328Contravention by directors of provisions of this Part s 329Submission of financial reports to Financial Reporting Panel s 330Notification of ASIC by Registrar of certain matters relating to auditor independence s 331Meaning of “obtaining of financial accommodation”s 332Fundraising to be in accordance with National Regulations s 333Limits on deposit taking s 334Members and other persons not required to see to application of money s 335Registrar’s directions about obtaining financial accommodation s 336Subordinated debt s 337Application of Corporations Act—issues of debentures s 338Disclosure statement s 339Restrictions on advertising and publicity s 340Application money to be held on trust s 341Approval of board for transfer of debentures s 342Application of Corporations Act—reissue of redeemed debentures s 343Compulsory loan by member to co-operative s 344Interest payable on compulsory loan s 345General nature of CCU s 346Priority of CCUs on winding up s 347Financial accommodation provisions apply to issue of CCUs s 348CCUs can be issued to non-members s 349Minimum requirements for rules concerning CCUs s 350CCUs not to be issued unless terms of issue approved by Registrar s 351Directors’ duties concerning CCUs s 352Redemption of CCUs s 353Capital redemption reserve s 354Issue of shares in substitution for redemption s 355Retention of surplus for benefit of co-operative s 356Application for charitable purposes or approved activities s 357Distribution of surplus or reserves to members s 358Application of surplus to other persons s 359Acquisition and disposal of assets s 360Notice required to be given of voting interest s 361Notice required to be given of substantial share interest s 362Requirements for notices s 363Maximum permissible level of share interest s 364Shares to be forfeited to remedy contravention s 365Powers of board in response to suspected contravention s 366Powers of Supreme Court about contravention s 367Co-operative to inform Registrar of interest over 20%s 368Co-operative to keep register s 369Unlisted companies to provide list of shareholders etc s 370Excess share interest not to affect loan liability s 371Extent of operation of this Division s 372Exemptions s 373Share offers to which this Division applies s 374Requirements to be satisfied before offer can be made s 375Some offers totally prohibited if they discriminate s 376Offers to be submitted to board first s 377Announcements of proposed takeovers about proposed company s 378Additional disclosure requirements for offers involving conversion to company s 379Consequences of prohibited offer s 380Exemptions s 381Operation of this Part s 382Application of Corporations Act—administration of co-operative s 383Appointment of administrator by Registrar in the case of insolvency s 384Operation of this Division s 385Appointment of administrator by Registrar s 386Effect of appointment of administrator s 387Revocation of appointment s 388Expenses of administration s 389Liabilities arising from administration s 390Additional powers of Registrar s 391Stay of proceedings s 392Administrator to report to Registrar s 393Application of Corporations Act—receivers and other controllers of property of co-operatives s 394Application of this Division s 395Mergers and transfers of engagements of local co-operatives s 396Requirements before application can be made s 397Disclosure statement required s 398Making an application s 399Approval of merger s 400Approval of transfer of engagements s 401Transfer of engagements by direction of Registrar s 402Meaning of “new body” and “transfer”s 403Application for transfer s 404Requirements before application can be made s 405New body ceases to be registered as co-operative s 406Transfer not to impose greater liability etc s 407Effect of new certificate s 408Copy of new certificate to be given to Registrar s 409New body is a continuation of the co-operative s 410How this Division applies to a merger s 411How this Division applies to a transfer of engagements s 412How this Division applies to a transfer of incorporation s 413Effect of merger or transfer on assets and liabilities s 414Requirements for binding compromise or arrangement s 415Court ordered meeting of creditors s 416Registrar to be given notice and opportunity to make submissions s 417Results of 2 or more meetings s 418Persons disqualified from administering compromise or arrangement s 419Application of Corporations Act to person appointed to administer compromise or arrangement s 420Application of Corporations Act—person appointed to administer compromise or arrangement s 421Copy of order to be attached to rules s 422Directors to arrange for reports s 423Power of Court to restrain further proceedings s 424Court need not approve compromise or arrangement takeovers s 425Provisions for facilitating reconstructions and mergers s 426Costs for Registrar s 427Explanatory statement required to accompany notice of meeting etc s 428Requirements for explanatory statement s 429Contravention of this Division—offence by co-operative s 430Definitions s 431Schemes and contracts to which this Division applies s 432Acquisition of shares pursuant to notice to dissenting shareholder s 433Restrictions when excluded shares are more than 10%s 434Remaining shareholders may require acquisition s 435Transfer of shares pursuant to compulsory acquisition s 436Disposal of consideration for shares compulsorily acquired s 437Notification of appointment of scheme manager s 438Power of Supreme Court to require reports s 439Effect of out-of-jurisdiction compromise or arrangement s 440Jurisdiction to be exercised in harmony with Corporations Act jurisdiction s 441Registrar may appear and be heard s 442Methods of winding up s 443Winding up on Registrar’s certificate s 444Application of Corporations Act—voluntary winding up and court-ordered winding up s 445Voluntary winding up—restrictions s 446Voluntary winding up—start of members’ voluntary winding up s 447Voluntary winding up—liquidator vacancy may be filled by Registrar s 448Distribution of surplus—non-distributing co-operatives s 449Review of liquidator’s remuneration s 450Liability of member to contribute in a winding up if shares forfeited etc s 451Application of Corporations Act—insolvent co-operatives s 452Method of deregistration s 453Application of Corporations Act—deregistration s 454Deregistration of co-operative ceasing to exist s 455Grounds for appointment of administrator, transfer of engagements or winding up of co-operative s 456What constitutes carrying on business s 457Operation of participating co-operatives in this jurisdiction s 458Authorisation to carry on business in this jurisdiction s 459Authorisation to carry on business in this jurisdiction is subject to conditions and restrictions of participating jurisdiction s 460Ceasing to be authorised to carry on business in this jurisdiction s 461Withdrawal of authorisation to carry on business s 462Name of participating co-operative s 463Application of Law and National Regulations to participating co-operatives s 464False copies of rules s 465False copy of documents s 466Restrictions on advertising and publicity—shares s 467Restrictions on advertising and publicity—debentures or CCUs s 468Registrar’s directions about obtaining financial accommodation s 469Name and place of origin to appear on business and other documents s 470Winding up to relate to activities in this jurisdiction s 471Supreme Court may order winding up s 472Application of Corporations Act—winding up of participating co-operatives in this jurisdiction s 473Outstanding property of participating co-operative s 474Definitions s 475Authority for merger or transfer of engagements s 476Requirements before application can be made s 477Disclosure statement required s 478Making an application s 479Approval of merger s 480Approval of transfer of engagements s 481Effect of merger or transfer of engagements s 482Part applies instead of certain other provisions of this Law s 483Application of Chapter s 484Falsification of books s 485Fraud or misappropriation s 486Offering or paying commission s 487Accepting commission s 488False statements in loan application etc s 489Application of Corporations Act—court-directed examinations s 490Definitions s 491Co-operative includes subsidiaries, participating co-operatives and co-operative ventures s 492Appointment of inspectors s 493Registrar and investigators have functions of inspectors s 494Inspector’s identity card s 495Production or display of inspector’s identity card s 496Powers of inspector s 497Inspector’s appointment conditions s 498Entry of place s 499Consent to entry s 500Inspectors may require certain persons to appear, answer questions and produce documents s 501Powers of inspectors at place entered s 502Functions of inspectors in relation to relevant documents s 503Protection from incrimination s 504Warrants s 505Warrants—applications made otherwise than in person s 506Requirements before executing warrant s 507General powers after entering places s 508Power to seize evidence s 509Receipt for seized things s 510Return of seized things s 511Power to require name and address s 512False or misleading statements s 513Power to require production of documents s 514False or misleading documents s 515Obstruction of inspectors s 516Copies or extracts of records to be admitted in evidence s 517Privilege s 518Machinery and other provisions for warrants s 519Definitions s 520Appointment of investigators s 521Powers of investigators s 522Examination of involved person s 523Privilege s 524Offences by involved person s 525Offences relating to documents s 526Record of examination s 527Report of investigator s 528Proceedings following inquiry s 529Admission of investigator’s report as evidence s 530Costs of inquiry s 531Application for special meeting or inquiry s 532Holding of special meeting s 533Expenses of special meeting or inquiry s 534Power to hold special inquiry into co-operative s 535Special meeting following inquiry s 536Notice to be given of conviction for offence s 537Secrecy s 538False or misleading statements s 539Further offence for failure to do required act s 540Civil remedies s 541Order against person concerned with co-operative s 542Injunctions s 543Undertakings s 544Offence for contravention of undertaking s 545Enforcement order on application with consent of person giving undertaking s 546Enforcement orders after contravention of undertaking s 547Copy of undertaking s 548Registration of undertakings s 549Double jeopardy s 550Strict liability s 551Time limit for starting proceedings for offence s 552Authorisation to start proceedings for offence s 553Definitions s 554Declarations of contravention s 555Declaration of contravention is conclusive evidence s 556Pecuniary penalty orders s 557Compensation orders s 558Who may apply for a declaration or order s 559Time limit for application for a declaration or order s 560Civil evidence and procedure rules for declarations of contravention and civil penalty orders s 561Civil proceedings after criminal proceedings s 562Criminal proceedings during civil proceedings s 563Criminal proceedings after civil proceedings s 564Evidence given in proceedings for penalty not admissible in criminal proceedings s 565Relief from liability for contravention of civil penalty provision s 566Power to grant relief s 567Irregularities s 568Civil proceedings not to be stayed s 569Standard of proof s 570Operation of Part—appeal includes review s 571Appeal against refusal to approve draft rules s 572Appeal against refusal to approve disclosure statement s 573Appeal against refusal to register co-operative s 574Appeal against refusal to approve amendment of rules s 575Appeal against refusal to register amendment s 576Appeal against decision of Registrar about remuneration of liquidator s 577Appeal against notice that participating co-operative not authorised to carry on business in this jurisdiction s 578Provisions relating to appeals s 579Bringing, or intervening in, proceedings on behalf of co-operative s 580Applying for and granting leave s 581Substitution of another person for the person granted leave s 582Effect of ratification by members s 583Leave to discontinue, compromise or settle proceedings brought, or intervened in, with leave s 584General powers of Supreme Court s 585Power of Supreme Court to make costs orders s 586Power of Registrar to intervene in proceedings s 587Certificate of registration s 588Certificate evidence s 589Records kept by co-operatives s 590Minutes s 591Official certificates s 592The Registrar and proceedings s 593Rules s 594Co-operative’s registers s 595Registrar of Co-operatives and other officials s 596Registrar’s functions s 597Functions conferred on Registrar under corresponding co-operatives laws s 598Delegation by Registrar s 599Register of co-operatives s 600Keeping of register of co-operatives s 601Inspection of register of co-operatives s 602Retention of records by Registrar s 603Disposal of records by Registrar s 604Filing of documents s 605Way of filing s 606Power of Registrar to refuse to register or reject documents s 607Approvals by Registrar s 608Information and evidence s 609Extension or shortening of time s 610Service of documents on co-operative or participating co-operative s 611Service on member of co-operative s 612Power to make Co-operatives National Regulations s 613National Regulations for savings or transitional matters s 614Publication and commencement of National Regulations s 615Disclosure statements s 616Supply of information between jurisdictions s 617Supply of information under reciprocal arrangements s 618Translations of documents s 619Qualified privilege s 620Stamp duty and registration fees s 621Procedures regarding giving of exemptions s 622Approval of forms s 623Exclusion of bodies s 624Savings and transitional provisions s 1Requirements for all co-operatives s 2Additional matters—co-operatives with share capital s 3Additional matters—non-distributing co-operatives s 1Terminology used in this Part s 2Basic rules—relevant interests s 3Control of corporation having power in relation to a share s 4Control of 20% of voting power in corporation having power in relation to a share s 5Deemed relevant interest in advance of performance of agreement that will give rise to a relevant interest s 6Control of corporation having a relevant interest by virtue of clause 5 s 7Matters not affecting application of Part s 8Corporation may have a relevant interest in its own shares s 9Exclusions—money-lenders s 10Exclusions—certain trustees s 11Exclusions—instructions to securities dealer to dispose of share s 12Exclusions—honorary proxies s 13Exclusions—holders of prescribed offices s 14Prescribed exclusions s 15Effect of Schedule s 16Relevant interest—corporation other than co-operative s 17Effect of Part s 18Associates of a corporation s 19Matters relating to voting rights s 20General s 21Exclusions s 22Related corporations s 1Entitlements of former members of trading or distributing co-operatives s 2Application of Chapter 5 to existing registered foreign co-operatives not incorporated under corresponding law s 3Maximum permissible level of share interest s 4Receivers of property s 1Displacement of Schedule by contrary intention s 2Law to be construed not to exceed legislative power of Legislature s 3Every section to be a substantive enactment s 4Material that is, and is not, part of this Law s 5References to particular Acts and to enactments s 6References taken to be included in Law or Act citation etc s 7Interpretation best achieving Law’s purpose or object s 8Use of extrinsic material in interpretation s 9Effect of change of drafting practice s 10Use of examples s 11Compliance with forms s 12Definitions s 13Provisions relating to defined terms and gender and number s 14Meaning of may and must etc s 15Words and expressions used in statutory instruments s 16Effect of express references to bodies corporate and individuals s 17Production of records kept in computers etc s 18References to this jurisdiction to be implied s 19References to officers and holders of offices s 20Reference to certain provisions of Law s 21Reference to provisions of this Law or an Act is inclusive s 22Exercise of statutory functions s 23Power to make instrument or decision includes power to amend or repeal s 24Matters for which statutory instruments may make provision s 25Presumption of validity and power to make statutory instrument s 26Appointments may be made by name or office s 27Acting appointments s 28Powers of appointment imply certain incidental powers s 29Delegations s 30Exercise of powers between enactment and commencement s 31Matters relating to distance, time and age s 32Time of Law ceasing to have effect s 33Repealed Law provisions not revived s 34Saving of operation of repealed Law provisions s 35Continuance of repealed provisions s 36Law and amending Acts to be read as one s 37Schedule applies to statutory instruments s 38Application s 39Penalty at foot of provision s 40Penalty other than at foot of provision

Section Whole Act

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372

Exemptions

Current

372 Exemptions

(1)

The Registrar may, by designated instrument, exempt a person or class of persons from the operation of this Division.

(2)

An exemption may be given unconditionally or subject to conditions.

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Previouss 371Extent of operation of this Division Nexts 373Share offers to which this Division applies